Kellogg Company K is battling some new negative PR from a graphic online video of a man urinating on a company assembly line. The U.S. Food and Drug Administration’s Office of Criminal Investigation has launched an investigation of the incident.
According to Kellogg, the video, which shows a man urinating on an assembly line and the camera panning to a Kellogg logo, was recorded at the company’s Memphis, TN factory in 2014.
Kellogg assured consumers worried about contaminated products that any potentially impacted Kellogg products would now be long past their expiration dates. These products may include Rice Krispies Treats, granola clusters and puffed rice treats.
The man in the video has not yet been identified, but Kellogg assured customers and investors that it has made the issue a top priority.
“We are outraged by this completely unacceptable situation, and we will work closely with authorities to prosecute to the full extent of the law,“ Kellogg said.
Related Link: Hedge Funds Now 'Strongly Bullish' On Oil
Kellogg reportedly learned of the video last Friday and immediately notified law enforcement. Shares of Kellogg stock are down by only 0.5 percent in Monday morning trading. Kellogg has been a bright spot in a weak 2016 market, climbing 3.9 percent year-to-date.
Disclosure: the author holds no position in the stocks mentioned.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
